LUXURYHOMEQUARTERLY APRIL 2013
LUXURYHOMEQUARTERLY
Dorette OppongTakyi is a Luxury Home Specialist in Phoenix AZ, USA A member of the Institute for Luxury Home Marketing
Luxury Market Quarterly Update Phoenix, Arizona - First Qtr 2013 The Phoenix Luxury Home Market showed a more positive sign than it did the same time last year. This past quarter, there were 2,678 new luxury homes and condos priced $500,000 or more that were put on the market for sale. This was about a 30% increase from only 2,045 luxury properties that came up for sale, same time last year. 3510 luxury homes were on the market for sale during the 1st Qtr of 2013. Most were priced less than $1,000,000 with 1552 of the luxury homes and condos priced higher than $1,000,000.
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Number of New Luxury Homes listed for sale Q1 2013
Price Range
# listed
$1,000,000 to $1,499,999
554
$1,500,000 to $1,999,999
483
$2,000,000 to $2,999,999
272
$3,000,000 to $3,999,999
118
$4,000,000 to $4,999,999
46
$5,000,000 plus
79
LUXURYHOMEQUARTERLY APRIL 2013
How well are Luxury Homes selling in the Phoenix Luxury Market? Luxury Homes in Phoenix that were successfully sold during the first quarter were sold after being on the market, after an average of 116 days. There were a total of 1,159 real buyers who actually showed up at closing, signed the papers and walked away with the keys in hand. 922 out of them paid below $1,000,0000.
Most Expensive home sold The most expensive home sold for $7,725,456 after being on the market for 46 days. It was originally put on the market for $9,775,000 in Phoenix. It was a 14, 312 square foot 2 story home in Redrock subdivision and was paid for in cash.
Homes sold for $5 million plus
“The most expensive Condo sold for $3,600,000 after just 12 days on the market after been listed for $3,800,000 and was financed through seller carry back� Number of Real Buyer who paid over $1,000,000
Price Range
# of buyers
$1,000,000 to $1,499,999
138
$1,500,000 to $1,999,999
61
$2,000,000 to $2,999,999
26
$3,000,000 to $3,999,999
8
$4,000,000 to $4,999,999
0
4 homes were sold for more than $5,000,000 after being on the market for an $5,000,000 plus 4 average of 358 days. The longest one took 655 days to sell. It To find out how the market is doing in a was originally listed for $7,195,000 and was specific subdivision or neighborhood, please sold for $6,665,000. call /text me on 480-442-0779 or email me at dorette@luxurylivinginphoenix.com Looking to Sell your Luxury Home? You will receive a personalized report for your home and a free consultation. email me at dorette@luxuryliving inphoenix.com or call me on 480-442-0779.
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LUXURYHOMEQUARTERLY APRIL 2013
Residences at 2211 Camelback Featured Luxury Condominium The Residences at 2211 Camelback Condominium is our featured Luxury High Rise Condominium for this issue. Located in heart of Phoenix, on Camelback Road and 32nd St, This luxury Condominium is very close to Sky Harbor International Airport. Living in this luxury condominium gives you access to lots of shopping, restaurants and businesses within walking distance or short driving times. The Residences at 2211 Camelback Condominium has 12 floors with 85 units with an average of 2590 square feet of living space. Built by Patrinely McCarthy, in 2006, the largest unit, unit 1105 is 6586 square feet in size as a result of combining units 1105 and 1106 together. The smallest unit, unit 103, has 541 square feet of living space. Only 4 units has been sold in the past 6 months, with 3 currently for sale priced between $657,000 to $1,150,000. The Residences at 2211 Camelback Condominium
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“Only 4 units has been sold in the past 6 months in The Residences at 2211 Camelback Condominium selling after average on 115 days on the market. There are currently 3 units for sale priced between $657,000 to $1,150,000.�
Amenities The Residences at 2211 Camelback Condominium offers the ultimate experience in luxury high rise living. Valet parking for residents and visitors, Concierge services, pet services, 24 hour security and guard. Some of the other amenities you can enjoy when living in the Residences at 2211 Camelback Condominium include access to a rooftop pool, fitness center, business center with conference room. Call me on 480-442-0779 to schedule a private viewing of any of the units for sale.
LUXURYHOMEQUARTERLY APRIL 2013
LUXURYHOMEQUARTERLY is a quarterly Phoenix Luxury Home Market Update publication by Dorette Oppong-Takyi. Dorette Oppong-Takyi is a Luxury Home Specialist in Phoenix, AZ, USA and a member of the Institute for Luxury Home Marketing. Coming from a science background, she applies her analytical, fact based and data driven contributions to every real estate transaction she is involved in. She is well versed with the trends and statistics of the Phoenix Real Estate market.
LUXURYHOMEQUARTERLY
Dorette Oppong-Takyi Luxury Home Consultant Phoenix, AZ Keller Williams Realty East Valley 2077 E Warner Road, #110 Tempe, AZ 85284